Bridge Acquisitions Acquires Multifamily Property In Jacksonville For $48.6M
SOLD
$48,600,000
Florida
See Similar DealsMultiFamily11,660 SF
Sold 05/07/2020
SOLD
Bridge Acquisitions Acquires Multifamily Property In Jacksonville For $48.6M
7400 Southwest 57th Avenue, Miami, FL, USA
See Similar DealsMultiFamily11,660 SF
Sold 05/07/2020
Summary
FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$4,168
Total Square Footage:11,660 SF
Transaction Type:Sale
The multifamily property located at 7400 Powers Ave in Jacksonville has been sold for a total amount of $48,600,000. The property consists of 384 units, resulting in a price per unit of $126,563. The transaction took place on 05/07/2021.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $48,600,000
- Address: 7400 Powers Ave
- Market: Jacksonville
The buyer of the property is Bridge Acquisitions, represented by Steven Klein. The seller is Oro Capital Advisors, represented by Steven M. Firtel and Bradley H. Mindlin. The brokers involved in the deal were Cliff Taylor and Joe Ayers from CBRE.
Players
SELLER
Details
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,592,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$172,665.53
Cash-on-Cash Return-1.27%
Monthly Debt Service$230,388.79
Annual Debt Service$2,764,665.53
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